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Nippon Steel to Establish New Steel Company and Production Plant in Thailand

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Nippon Steel has confirmed its plans to develop a hot-dip galvanizing facility and to form a new firm for the production and marketing of galvannealed and hot-dip galvanized steel sheets for Thailand’s automotive market.

The tentative name of the new company is Nippon Steel Galvanizing (Thailand) Co.

Nippon Steel will invest $88 million in the new company and will hold an equity ratio of 100%. The new firm is anticipated to construct a hot-dip galvanizing facility in Rayong Province, Thailand. The plant will be equipped with advanced processing equipment currently employed in Nippon Steel’s steel plant in Japan. The company will invest nearly $300 million to build the steel plant, which will be designed to have an annual production capacity of 360,000 tons.

The facility is anticipated to begin production of ultra quality and high-grade galvannealed and galvanized steel sheets as well as high-strength steel and automotive outer-panels in 2013.

Nippon Steel plans to offer customized steel products such as high-grade automotive steel sheets via the new company. The steel market in Thailand is expanding continuously and presents a major market for Nippon Steel. The company expects the same growth rate for the Thailand steel market in the coming years.

Source:

http://www.nsc.co.jp

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